Lithium and Cobalt Markets Benefit From Demand for Rechargeable Batteries

NEW YORK, May 1, 2017 /PRNewswire/ --

A research report by Transparency Market Research projects that the global lithium-ion battery market will reach US$77.42 billion by 2024 and expanding at a CAGR of 11.6% throughout the forecast period (2016 - 2024). The primary reason for the expected growth of this market is innovation in rechargeable batteries, which now offer advantages such as higher efficiency and longer lifespan when comparing to alternatives. Based on power capacity, the lithium-ion battery market can be segmented into 5-25 Wh, 48-95 Wh, 18-28 KWh, 100-250 KWh, and more than 300 KWh. In terms of value, the 5-25 Wh lithium-ion battery is primarily used in smartphones and estimated to be the leading segment, while the 18-28 KWh power capacity segment is projected to rapidly grow through 2024. This shows that the high demand for electrical vehicles in the automotive sector. Scientific Metals Corp. (OTC: SCTFF) (TSX-V: STM), eCobalt Solutions Inc. (OTC: ECSIF), Katanga Mining Limited (OTC: KATFF), Sociedad Quimica y Minera de Chile (NYSE: SQM), Albemarle Corporation (NYSE: ALB)

By type, it is estimated the Lithium cobalt oxide (LCO) battery type has comprised the largest share of the overall lithium ion battery market in 2016. A research by Markets and Markets point out the pros of LCO batteries - their energy density of any LCO battery is very high, and the cost of manufacturing these batteries is fairly reasonable owing to the use of graphite carbon and cobalt. The report also indicates that the market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022. The combination of nickel and manganese gives the required accuracy and effectiveness. The market for LCO batteries is also projected to grow thanks to the increasing popularity of electric and hybrid vehicles.  

Scientific Metals Corp. (OTCQB: SCTFF) (TSX-V: STM) on April 26th reported that it has, launched its 2017 exploration program at the Iron Creek Cobalt Project, initially commencing with the rehabilitation of the underground workings.

The Company is finalizing plans with a claim staking contractor to expand the size of the property through claim staking, and will commence claim staking soon, as the snow pack melt allows. Surface and underground drilling campaigns are in the final stages of planning, and will follow underground and surface mapping and sampling programs. All work will be conducted on the patented lode mining claims which cover the historic resources which have already been identified.  Please see Company news release dated September 7, 2016 for a summary of the project.

The Company has commenced the rehabilitation of the portals to three underground tunnels which currently have a combined length of 1,500 feet and access the mineralized zones. The first portal (Adit #1) now has new timbers installed at the surface, and access has been gained to the entire length of tunnels connected to Adit #1. Further rehabilitation of the tunnels will be completed prior to the planned underground sampling and mapping program, which will be followed by underground drilling. A contractor has been selected to complete the underground drilling.

During 2017 the Company plans to conduct geophysical surveys over the known mineralized zones to identify a method that will assist in locating drill targets. Extensive surface sampling, in sediment, soil and outcrop is planned.

eCobalt Solutions Inc. (OTCQB: ECSIF) is committed to providing ethically produced and environmentally sound battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. On February 28, 2017, the company announced that it has closed its previously announced bought deal financing of 15 million Units and the related over-allotment option of 2.25 million Units at a purchase price of C$1.00 per Unit, for aggregate gross proceeds in the amount of C$17.25 million. The company intends to use the net proceeds of the Offering for advancing the development of the Company's Idaho Cobalt project and for general working capital purposes.

Katanga Mining Limited (OTC: KATFF) operates a large-scale copper-cobalt project with substantial high-grade mineral reserves and integrated metallurgical operations in the Democratic Republic of Congo (DRC). The company holds a 75% stake in two joint ventures with Gécamines, a state-owned mining company in the DRC. All assets and operations of Katanga are located in the Katanga Province of the Democratic Republic of Congo (DRC). It is a vast country with immense economic resources, including an estimated 10% of the world's copper and 50% of its cobalt.

Sociedad Quimica y Minera de Chile (NYSE: SQM) is an integrated producer and distributor of specialty plant nutrients, iodine, lithium, potassium-related fertilizers and industrial chemicals. As the world's largest lithium producer, SQM is committed to the development and sustainability of the lithium industry. The company obtains the Certification ISO 9001:2008 to the Quality Management System for the production and sale of lithium carbonate and lithium hydroxide. Lithium carbonate is used in a variety of applications, including batteries, frits for the ceramic and enamel industries, heat resistant glass (ceramic glass), primary aluminum, air conditioning chemicals, continuous casting powder for steel extrusion, pharmaceuticals, and lithium derivatives.

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. Recently, the company announced that Talison, a joint venture between Albemarle and Tianqi Lithium Corporation, has approved the expansion of lithium concentrate production at its Greenbushes, Australia spodumene mine. Greenbushes is the world's largest active lithium mine. It has the largest hard rock lithium reserve, and contains the highest concentration of lithium oxide available of any active mine. "This project is integral to our announced lithium expansion plans so that we can meet the growing needs of our customers," said John Mitchell, president, Lithium and Advanced Materials for Albemarle. "The expansion of the mine and ore upgrading facilities is a key deliverable in our supply strategy to grow total combined lithium carbonate equivalent (LCE) production to approximately 165,000 MT/year early in the next decade."

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